EnviroTechnologies International Inc. (ETII)

[ASimEE]

So I just read the quarterly report for SAFS...

"On April 22, 2013...the Company completed a 100 to 1 reverse stock split...by which 134,506,004 shares were reduced to 1,345,065 shares."

OK, nothing wrong with that...

"During the three months ended June 30, 2013, the Company issued 80,000,000 shares as follows: 21,000,000 share were issued under terms of convertible notes...35,000,000 shares issued to the Company's president for compensation and 25,000,000 shares issued to a consultant for research and development services. There were 85,345,065 shares of common stock issued and outstanding, net at June 30, 2013"

Wait, what? Am I reading that right? AFTER he cut every shareholders share count by 100, he issued himself a 35MM share block as compensation? This reverse split and share issue just gave Black 41% of the OS (on top of whatever he already owns) at the expense of wiping out his shareholders..

Its been a long tiring week already, someone tell me I'm reading/interpreting that wrong.